Tomer Babai Sells 63,452 Shares of Tigo Energy (NASDAQ:TYGO) Stock

Tigo Energy, Inc. (NASDAQ:TYGO) Director Tomer Babai sold 63,452 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $4.15, for a total transaction of $263,325.80. Following the completion of the sale, the director directly owned 214,450 shares in the company, valued at $889,967.50. This represents a 22.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tigo Energy Price Performance

Shares of TYGO opened at $4.08 on Friday. The firm’s 50 day simple moving average is $4.14 and its 200 day simple moving average is $3.10. The company has a market capitalization of $309.71 million, a P/E ratio of 102.03 and a beta of 1.32. Tigo Energy, Inc. has a 1-year low of $0.92 and a 1-year high of $5.33.

Tigo Energy (NASDAQ:TYGO) last announced its earnings results on Tuesday, May 5th. The company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). The business had revenue of $25.20 million for the quarter, compared to the consensus estimate of $25.76 million. Tigo Energy had a net margin of 3.07% and a negative return on equity of 41.48%. On average, equities analysts anticipate that Tigo Energy, Inc. will post 0.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TYGO. AIGH Capital Management LLC bought a new position in shares of Tigo Energy in the first quarter worth approximately $27,374,000. Vanguard Group Inc. grew its holdings in shares of Tigo Energy by 182.4% in the third quarter. Vanguard Group Inc. now owns 922,226 shares of the company’s stock worth $2,306,000 after purchasing an additional 595,702 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Tigo Energy by 46.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,425,040 shares of the company’s stock worth $1,967,000 after purchasing an additional 449,140 shares during the last quarter. Walleye Capital LLC grew its holdings in shares of Tigo Energy by 126.7% in the fourth quarter. Walleye Capital LLC now owns 519,899 shares of the company’s stock worth $717,000 after purchasing an additional 290,544 shares during the last quarter. Finally, AWM Investment Company Inc. bought a new position in shares of Tigo Energy in the fourth quarter worth approximately $329,000. Institutional investors own 15.72% of the company’s stock.

Analysts Set New Price Targets

TYGO has been the topic of a number of recent analyst reports. Roth Mkm reaffirmed a “buy” rating and issued a $7.00 target price on shares of Tigo Energy in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Tigo Energy from a “sell (e+)” rating to a “sell (d+)” rating in a research report on Monday, May 18th. Wall Street Zen cut shares of Tigo Energy from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Northland Securities set a $6.40 price target on shares of Tigo Energy in a research report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Tigo Energy has an average rating of “Hold” and an average price target of $6.47.

Tigo Energy Company Profile

Tigo Energy, Inc (NASDAQ: TYGO) is a U.S.-based provider of module-level power electronics (MLPE) solutions designed to optimize the performance and safety of solar photovoltaic systems. Founded in 2007 and headquartered in Campbell, California, Tigo Energy develops hardware and software tools that enhance energy yield, improve system reliability, and streamline compliance with electrical codes. The company’s technology platform is used by solar installers, project developers, and module manufacturers to deliver higher returns on investment and bolster the safety profile of PV arrays.

At the core of Tigo’s offerings is its TS4 platform, a modular MLPE solution that enables real-time monitoring, rapid shutdown functionality, and maximum power point tracking at the panel level.